WidebodyPTV wrote:afcjets wrote:If unemployment reaches 20 that wouldn't affect the other 80 percent. Businesses travel is likely to drop much more than 20 percent with the new virtual trend, even if no companies went out of business or downsized.
That's a pretty shallow view. Over 80% of households (working and not collecting a fixed income) have reported a significant drop in income. The numbers are startling -- nearly 1-in-3 rents failed to make their payment for the month (and many more didn't pay it in full), credit card companies are bracing for record defaults, etc. Don't be deceived by unemployment numbers ... many people who are working, have taken significant pay cuts or accepted a lower-paying position/job. It'll be a long while before we fully recover from this.
Meanwhile, there's no evidence of a full "virtual trend" in business. Business travel will continue to be essential to the needs of a business for multitude of reasons, and will recover much faster than that of families wishing to blow $10K on a Disney Cruise.
Yes there is. Over 45 states have stay at home in orders in place which means a significant number of businesses are set up for that now. Virtual employees can work from anywhere and will no longer be confined to weekend trips, holidays and vacation time and might travel more. Also, unlike business travel, demand for leisure travel is totally elastic and airfares and the price of oil have already dropped significantly.